Donations to Voluntary Organisations Rules

By means of Legal Notice 86 of 2024, the Government of Malta has published the ‘Donations to Voluntary Organisations Rules’, by virtue of which a company which makes a donation to which these rules apply, shall have the right to a tax credit for the year of assessment in question in respect of that donation. […]

Written By Stephen Balzan

On April 22, 2024
"

Read more

By means of Legal Notice 86 of 2024, the Government of Malta has published the ‘Donations to Voluntary Organisations Rules’, by virtue of which a company which makes a donation to which these rules apply, shall have the right to a tax credit for the year of assessment in question in respect of that donation.

The tax credit which may be given to a company for any year of assessment in accordance with these rules shall be the lesser of the following two amounts:

(a) 35% of the total of the donations made by it in the year immediately preceding that year of assessment; or

(b) five hundred euro (€500).

These rules shall apply to cash donations made by companies on or after 1st January 2024 to voluntary organisations that are enrolled with the Commissioner for Voluntary Organisations in accordance with the Voluntary Organisations Act and operating directly in the field of social, environmental or animal welfare.

If you need any help or assistance with the above-mentioned, please do not hesitate to contact us on [email protected]

How can we help?  

 

For further information, please contact us on [email protected]. ACT can help you understand the changes to the income tax, accounting, corporate and VAT rules and how these can impact your business.   

 

Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria.  For an appointment in our Gozo office, please call on +356 21378672 or send us an email on [email protected].